less of the length of the investment, determine how much interest will you earn on a $1000 deposit for a. 9 months. b. 1 year. c. 1.6 years.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...
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8. You can earn $38 in interest on a $1000 deposit for eight months. If the EAR is the same regard-
less of the length of the investment, determine how much interest will you earn on a $1000
deposit for
a. 9 months.
Sunnon
0
b. 1 year.
c. 1.6 years.
met $101 in a bank account and five years later it has grown to $136.14.
Transcribed Image Text:8. You can earn $38 in interest on a $1000 deposit for eight months. If the EAR is the same regard- less of the length of the investment, determine how much interest will you earn on a $1000 deposit for a. 9 months. Sunnon 0 b. 1 year. c. 1.6 years. met $101 in a bank account and five years later it has grown to $136.14.
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